Principal Financial Group Inc. Increases Stock Position in SolarWinds Co. (NYSE:SWI)

Principal Financial Group Inc. raised its holdings in shares of SolarWinds Co. (NYSE:SWI) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 293,855 shares of the software maker’s stock after purchasing an additional 12,428 shares during the period. Principal Financial Group Inc. owned approximately 0.17% of SolarWinds worth $4,187,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp lifted its holdings in shares of SolarWinds by 57.5% during the third quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock valued at $28,619,000 after purchasing an additional 800,467 shares in the last quarter. Harvey Partners LLC purchased a new position in SolarWinds in the 3rd quarter worth about $1,958,000. Public Sector Pension Investment Board bought a new position in SolarWinds during the 3rd quarter valued at about $1,496,000. Meritage Portfolio Management boosted its holdings in shares of SolarWinds by 245.0% during the 4th quarter. Meritage Portfolio Management now owns 96,154 shares of the software maker’s stock valued at $1,370,000 after acquiring an additional 68,281 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of SolarWinds by 170.1% in the third quarter. Barclays PLC now owns 94,530 shares of the software maker’s stock worth $1,233,000 after acquiring an additional 59,532 shares during the period. Institutional investors own 93.96% of the company’s stock.

Analyst Upgrades and Downgrades

SWI has been the topic of several research reports. Scotiabank raised their target price on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Royal Bank of Canada raised their price target on SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Wedbush cut SolarWinds from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $18.50 in a research report on Friday, February 7th. Robert W. Baird increased their target price on SolarWinds from $15.00 to $18.50 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Truist Financial restated a “hold” rating and set a $18.50 price target (up from $13.00) on shares of SolarWinds in a research note on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $18.00.

SolarWinds Trading Up 0.2 %

Shares of SWI stock opened at $18.34 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.85 and a quick ratio of 0.71. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 29.11 and a beta of 0.94. SolarWinds Co. has a 1 year low of $10.14 and a 1 year high of $18.55. The firm has a fifty day moving average price of $15.73 and a 200-day moving average price of $14.05.

SolarWinds (NYSE:SWI) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. SolarWinds had a return on equity of 12.19% and a net margin of 14.04%. As a group, equities analysts predict that SolarWinds Co. will post 0.75 earnings per share for the current year.

SolarWinds Profile

SolarWinds Corporation provides information technology (IT) management software products in the United States and internationally. It provides a suite of network management software that offers real-time visibility into network utilization and bandwidth, as well as the ability to detect, diagnose, and resolve network performance problems; and a suite of infrastructure management products, which monitors and analyzes the performance of applications and their supporting infrastructure, including servers, physical, virtual and cloud infrastructure, storage, and databases.